{"id":353103,"date":"2024-11-13T14:55:10","date_gmt":"2024-11-13T14:55:10","guid":{"rendered":"https:\/\/www.techopedia.com\/?post_type=news&p=353103"},"modified":"2024-11-13T15:48:08","modified_gmt":"2024-11-13T15:48:08","slug":"btc-hits-ath-profit-taking-remains-low","status":"publish","type":"news","link":"https:\/\/www.techopedia.com\/news\/btc-hits-ath-profit-taking-remains-low","title":{"rendered":"BTC Hits All-Time High, Profit-Taking Remains Low: What\u2019s Going On?"},"content":{"rendered":"

Bitcoin<\/a> has soared more than 40%<\/a> over the past month, reaching a new all-time high above $92,000 on November 13.<\/p>\n

Still, profit-taking activity remains surprisingly low, indicating further upside potential before the market reaches exhaustion.<\/p>\n

According to blockchain analytics firm Glassnode<\/a>, profit-taking volumes are significantly lower than in past all-time high cycles<\/strong>.<\/p>\n

“We’ve observed $20.4 billion in realized profits since entering this latest ATH discovery phase,” Glassnode noted in its November 12 report.<\/p>\n

Historically, similar phases have seen monthly profit realizations between $30 billion and $50 billion before demand exhaustion signals corrections.<\/p>\n

Moreover, daily profit volumes have averaged $1.56 billion since Bitcoin broke its previous record on November 5. This figure is around half of the profit volumes observed during previous cyclical ATH peaks, where realized profits exceeded $3 billion per day.<\/p>\n

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\n \n <\/i>\n <\/button>\n \n Table of Contents\n <\/span>\n Table of Contents<\/span>\n <\/div>\n \n
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  1. \n
    \n Over 95% of Bitcoin Supply is in Profit<\/a>\n <\/div>\n <\/li>\n
  2. \n
    \n Analysts Expect Further Gains<\/a>\n <\/div>\n <\/li>\n
  3. \n
    \n The Bottom Line<\/a>\n <\/div>\n <\/li>\n
  4. \n
    \n FAQs<\/a>\n <\/div>\n <\/li>\n <\/ol>\n
    <\/div>\n
    \n